Second charge mortgage new business volumes grew by 43% in May 2022

Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said: “The second charge mortgage market has returned to more normal levels of new business since June 2021.  We expect new business to continue to grow in the coming months but at a slower rate. Annual new business volumes in May were 2% lower than the pre-pandemic peak.”

“As always, customers who are concerned about meeting payments should speak to their lender as soon as possible to find a solution.”